Health-care company stocks fell as the broader market pulled back on the latest round of economic reports.

AbbVie said it has acquired clinical-stage biotechnology company Celsius Therapeutics for $250 million in cash in a deal that bolsters its pipeline of potential treatments for inflammatory diseases.

AbbVie said Celsius' lead investigational asset, CEL383, has completed a Phase 1 clinical study for the treatment of inflammatory bowel disease, or IBD.

The Supreme Court rejected a bankruptcy plan for OxyContin-maker Purdue Pharma that would have allocated billions of dollars from wealthy Sackler family members to combat opioid addiction in exchange for shielding them from civil lawsuits over their alleged role in fueling the drug epidemic.

GSK shares plunged after U.S. health officials narrowed their recommendation of respiratory syncytial virus vaccines to a smaller age range and more at-risk patients, which could affect sales of GSK's RSV vaccine, Arexvy. 


 Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

06-27-24 1816ET